 A 26-year-old scientist in Penang lost RM466,078 after being lured into a forex trading scam via the Digital Realtyv app
GEORGE TOWN: A 26-year-old scientist has lost RM466,078 after falling victim to an online investment scam.
Penang police chief Datuk Azizee Ismail said the victim lodged a report at the Southwest district police headquarters yesterday.
The man was allegedly contacted by a suspect in early September through the Xuon Hong Shu application.
He was offered a foreign exchange trading investment promising high returns within a short period.
“The victim was instructed to download the Digital Realtyv application to register as a member and start investing,” Azizee said in a statement.
The victim made his first payment of RM4,500 into an individual’s account on October 6.
He received a return of RM4,754 on the same day, which convinced him of the scheme’s legitimacy.
Subsequently, the victim increased his capital significantly through 13 transactions.
He transferred a total of RM466,078.51 to seven different bank accounts between October 6 and November 17.
The victim only realised he had been scammed when he was unable to withdraw his supposed profits from the application.
Police have opened an investigation under Section 420 of the Penal Code for cheating. – Bernama
